Havells India shares surge over 12% post stock split

Aug 26 2014, 14:46 IST
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The surge came in wake of splitting of shares. (File photo) The surge came in wake of splitting of shares. (File photo)
SummaryWith splitting of the shares, Havells India's stock touched a 52-week high figure

Shares of Havells India, maker of electrical equipment, soared over 12 per cent post stock-split to touch one year high in a subdued market today.

The company stock surged 12.18 per cent to Rs 279.70, a 52-week high on the BSE as against 249.31 (adjusted basis). The stock had closed at Rs 1,246.55 (pre-split) yesterday.

Havells had announced a stock split in the ratio of 5:1, that is every share with face value Rs 5 will be split into 5 shares of Re 1 each.

The company had in a filing to the BSE on August 11 said it has fixed August 27, 2014 as record date for the purpose of sub-division of equity shares of Rs 5 per share of the company into 5 shares of Re 1 each. However, the split has taken effect today itself.

Stock split increases liquidity of a share as more retail investors buy the share due to its reduced price per share

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